In what promises to set a new benchmark on smart city development, the port city of Kochi in Kerala is gearing up to unveil an integrated township with 6.5 mn sq feet of IT space by2021. Envisioned as a special economic zone (SEZ), SmartCity Kochi would be spread over 246 acres in suburban Kochi when complete, with 131 acres being earmarked for IT space and the rest for residential-cum-mixed use.
The project is a joint venture between Kerala state (16%) and Dubai Holding (84%). The partners had entered into a framework agreement in May, 2007 to set up an IT-based township with world-class infrastructure that included residential and educational facilities, besides retail and hospitality offerings. SmartCity Kochi would adhere to international sustainability standards, protecting the environment even as its inhabitants are provided comfortable, healthy and productive spaces for work and leisure.
Phase I of the project, comprising a 0.65-mn-sq-ft IT tower and associated infrastructure, was inaugurated in February, 2016. Regarding progress of Phase II, Manoj Nair, CEO of SmartCity Kochi, tells FE, “construction of 5.8 mn sq ft of built-up area is ongoing in various phases and these are likely to be delivered from March, 2020 onwards until April, 2021.” On infrastructure creation, he says, “to facilitate co-development by investors, we have invested in the development of 7 km of 4-lane roads with utility and services trenches. We are hoping to commission two 33-KV substations by mid July. The construction of a 3-MLD water treatment plant has commenced and is expected to be complete in the first quarter of 2020.” As much as 30 acres of land has been utilised so far for construction of roads, utility trenches, drains, substations, water storage tank, customs office, etc., he stresses. In what makes for a unique feature, all customers would be treating waste water with their own sewage treatment plant (STP) to ensure zero discharge. Further, all buildings in the township would employ rooftop solar to generate renewable power.
Major business entities like the Lulu Group International, Prestige Group, Maratt Group, Holiday Group and Schulte Group are the co-developers to have signed up for IT business infrastructure projects at SmartCity Kochi. Auguring well for its prospects, spaces in Phase I’s 0.65-mn-sq-ft built-up area have been leased out fully, with a total of 35 companies occupying them.
The promoters have drawn up plans to raise an additional Rs 4,000 crore from investors for the upcoming phases III, IV and V. “Phase III will have residential, sports & recreation facilities and mixed-use developments over an area of 30 acres. Planning for phases IV and V is underway, wherein we would invest an estimated Rs 200 crore on infrastructure to activate 45 acres of additional plots that could be offered for residential and social infrastructure projects. These phases are likely to be delivered from 2023 onwards until 2027,” the CEO says. “Overall, SmartCity Kochi has drawn investment of over Rs 2,600 crore so far. Its full buildout investment potential is estimated at Rs 9,000 crore,” Nair says.